Correlation Between WEMA BANK and ASO SAVINGS
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By analyzing existing cross correlation between WEMA BANK PLC and ASO SAVINGS AND, you can compare the effects of market volatilities on WEMA BANK and ASO SAVINGS and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in WEMA BANK with a short position of ASO SAVINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of WEMA BANK and ASO SAVINGS.
Diversification Opportunities for WEMA BANK and ASO SAVINGS
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between WEMA and ASO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding WEMA BANK PLC and ASO SAVINGS AND in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ASO SAVINGS AND and WEMA BANK is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on WEMA BANK PLC are associated (or correlated) with ASO SAVINGS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ASO SAVINGS AND has no effect on the direction of WEMA BANK i.e., WEMA BANK and ASO SAVINGS go up and down completely randomly.
Pair Corralation between WEMA BANK and ASO SAVINGS
If you would invest 1,200 in WEMA BANK PLC on April 19, 2025 and sell it today you would earn a total of 410.00 from holding WEMA BANK PLC or generate 34.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.31% |
| Values | Daily Returns |
WEMA BANK PLC vs. ASO SAVINGS AND
Performance |
| Timeline |
| WEMA BANK PLC |
| ASO SAVINGS AND |
WEMA BANK and ASO SAVINGS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WEMA BANK and ASO SAVINGS
The main advantage of trading using opposite WEMA BANK and ASO SAVINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WEMA BANK position performs unexpectedly, ASO SAVINGS can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ASO SAVINGS will offset losses from the drop in ASO SAVINGS's long position.| WEMA BANK vs. BUA FOODS PLC | WEMA BANK vs. NEM INSURANCE PLC | WEMA BANK vs. UNIVERSAL INSURANCE PANY | WEMA BANK vs. AFRICAN ALLIANCE INSURANCE |
| ASO SAVINGS vs. GUINEA INSURANCE PLC | ASO SAVINGS vs. ALUMINIUM EXTRUSION IND | ASO SAVINGS vs. VITAFOAM NIGERIA PLC | ASO SAVINGS vs. JAPAUL OIL MARITIME |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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